Israeli report says Iran is being hurt

JERUSALEM A government report published in local media on Thursday concludes that international sanctions are hitting Iran hard and called for another round, adding a new wrinkle to Prime Minister Benjamin Netanyahu's claim that tougher action is needed to prevent the Islamic Republic from developing nuclear weapons.

The Foreign Ministry report, which surfaced on the same day Netanyahu made his case before the U.N. General Assembly, adds to the cacophony of voices coming out of Israel over the showdown with Iran.

The prime minister argues that an attack on Iran's nuclear facilities may be the only answer to what he calls a fanatical and intransigent Iranian leadership. President Shimon Peres and others want to give punishing steps more time to persuade the Iranians to enter negotiations.

Four rounds of U.N. sanctions have already been placed on Iran, which insists its nuclear program is for peaceful purposes.

The report, according to details published in the Haaretz newspaper, found that Iran's oil exports declined by more than half in the past year – from 2.4 million barrels a day to 1 million – and oil revenues dropped by $40 billion since the beginning of the year.

An Israeli foreign ministry official confirmed the report and said it recommended that another round of sanctions be imposed, but declined to elaborate.

The Foreign Ministry based the findings on data received from countries that have embassies in Iran, according to Haaretz.

The report also says sanctions on Iran's central bank have made it difficult for the regime to access its foreign currency reserves, and bread, meat and electricity prices have soared because of the sanctions.

According to the International Energy Agency, Iran's crude oil production fell from nearly 4 million barrels a day in May to 2.9 million barrels a day in July.

Imports of Iranian oil by major consumers dropped to 1 million barrels a day in July from 1.74 million barrels a day in June.

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